BLM Oil and Gas Sale Nets Over $14 Million
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The Bureau of Land Management (BLM) generated over $14 million for leasing rights on parcels offered at the BLM's quarterly federal oil and gas lease auction held Feb. 11, in Cheyenne. Almost half of the bid and rental receipts go to the State of Wyoming.
Bids ranged from the federally mandated minimum of $2 per acre to a high bid of $5,400 per acre. Successful bidders also pay a $150 per parcel one-time administrative fee and a yearly rental of $1.50 per acre for the first five years of the lease and $2 per acre in years six through 10.
The next BLM Wyoming oil and gas lease sale is scheduled for Tuesday, May 6, 2014, in Cheyenne.
February 11, 2014
BLM Wyoming Competitive Sale Results Summary
Parcels Offered
165
Parcels Sold
165
% Parcels Sold
100%
Acres Offered
152,035.120
Acres Sold
152,035.120
% Acres Sold
100%
Average Bid/Acre
For Parcels Offered
For Acres Sold
$90.94
$90.94
Average Bid/Parcel
For Parcels Offered
For Parcels Sold
$83,790.61
$83,790.61
Highest Bid/Acre
$5,400.00
Parcel with High Bid/Acre
76
Highest Bid/Parcel
$936,000.00
Parcel with High Total Bid
65
Total Bonus Bid
$13,825,450.00
Total Rental Due
$228,112.50
Total Administrative Fees Due
$25,575.00
Total Receipts Due
$14,079,137.50
The BLM manages more than 245 million acres of public land located primarily in 12 western states, including Alaska, on behalf of the American people. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. Our mission is to sustain the health, diversity, and productivity of America’s public lands for the use and enjoyment of present and future generations.